Bitwise Asset Management Inc. Completes $70 Million Series B, Valuing The Company At More Than $500 Million
Bitwise Asset Management Inc. Completes $70 Million Series B, Valuing The Company At More Than $500 Million
06/15/21, 12:49 PM
Location
Money raised
$70 million
Round Type
series b
Bitwise Asset Management, the world’s largest cryptocurrency index fund manager, today announced the completion of its Series B. The round was led by Elad Gil and Electric Capital, joined by new backers including Daniel Loeb’s Third Point LLC, Daniel Och’s Willoughby Capital, Louis Bacon’s Moore Strategic Ventures, Paul Eisenstein’s Vetamer Capital, and Coinbase Ventures, alongside individual investors Henry Kravis, Stanley Druckenmiller, David McCormick (Bridgewater CEO), Daniel Sundheim (D1 CIO), Kevin Warsh (former U.S. Federal Reserve Governor), Nadeem Meghji (Blackstone executive), Tracey Warson (former Head of Citi Private Bank), Fidji Simo (Facebook executive), Helen Riley (Google X CFO), and several others (full list below). Existing Bitwise backers including Highland Capital, Khosla Ventures, Blockchain Capital, Castle Island Ventures, Alison Davis, Adam Nash, and Naval Ravikant participated as well.
Company Info
Location
san francisco, california, united states
Additional Info
Based in San Francisco, Bitwise is one of the largest and fastest-growing cryptoasset managers. As of Q1 2021, Bitwise managed over $1.2 billion across an expanding suite of investment solutions. The firm is known for managing the world’s largest crypto index fund (OTCQX: BITW), and pioneering products spanning Bitcoin, Ethereum, DeFi and crypto-focused equity indexes. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing, coming from firms including BlackRock, Blackstone, Facebook and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg and The Wall Street Journal.